8/4/2019 RAHB Media Release

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MEDIA RELEASE

August real estate market sees increases over last year

(September 6, 2011 Hamilton, Ontario) For the third straight month, the real estate market in theGreater Hamilton, Burlington and outlying areas* experienced increases in listings, sales and averagesale price when compared to the same month last year, according to Multiple Listing Service (MLS)statistics released today by the REALTORS Association of Hamilton-Burlington (RAHB).

The residential freehold market saw the largest gains with a 24.1 per cent increase in number of listingsand 12.5 per cent increase in number of sales. The average sale price was up four per cent over Augustof last year.

In the condominium market, listings were up 13.1 per cent and average sale price up 2.5 per cent overthe same month last year.

The three summer months that just ended were certainly strong months compared to last year, saidRAHB President Ann Forbes Arndt. Remembering that the summer market last year was affected by theHST, we need to look at how well we did in comparison to an average year.

Based on market results over the last ten years, the residential market in August was remarkablyaverage. The only major deviations from the norm were in the number of listings for residentialproperties, where listings were up over the ten-year average.

While August numbers of listings and sales showed good gains over August of last year, the numbers arequite different for the first eight months of the year. Listings of residential properties are down 3.2 percent while sales are down 1.4 per cent. Average sale price continues to climb, however, and is 4.4 percent higher year to date than last year at the same time.

The numbers for the month of August:

All Property Types 2010 2011 % change 10-year averageListings 1222 1498 22.6 1369Sales 918 1033 12.5 1036Average Sale Price $296,872 $312,092 5.1 N/A

Residential OnlyListings 1127 1399 24.1 1255Sales 882 992 12.5 993Average Sale Price $295,551 $307,245 4.0 N/A

Freehold OnlySales 703 795 13.1 792Average Sale Price $314,671 $322,581 2.5 N/A

Condominium OnlySales 179 197 10.1 202Average Sale Price $220,456 $245,355 11.3 N/A

Commercial Properties (includes industrial, farm, vacant land and business)

Sales 36 41 13.9

8/4/2019 RAHB Media Release

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